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The 2025 crypto cycle has been defined by more than just Bitcoin hitting new all-time highs, it has been a year of structural evolution. As capital flows between on-chain venues and centralized exchanges (CEXs) reached fever pitch, the industry’s focus shifted toward how platforms source and price new assets.
A new comprehensive audit by Gate Research, covering 447 spot listings throughout 2025, reveals a clear divergence in performance between fast-follow listings and primary launches. The data…
